Nigeria's Tax Committee Denies Minister Oyedele Admitted Errors in New Laws
The Presidential Fiscal Policy and Tax Reforms Committee has firmly dismissed recent media reports suggesting that the Minister of State for Finance, Taiwo Oyedele, acknowledged flaws in Nigeria's newly introduced tax laws. In a statement released on Sunday, April 12, 2026, via the minister's official X page, the committee described these claims as misleading and a distortion of his actual remarks.
Clarification on Legislative Process
The committee clarified that some media outlets falsely alleged that Oyedele advised Nigerians to await the outcome of a legislative probe into the tax laws. It emphasized that this process had already been concluded, with the certified and gazetted versions of the laws published by the National Assembly as early as January 2026. The statement read, in part, that these publications misrepresent the minister's statements, falsely suggesting an ongoing probe when the legislative review is complete.
Early Successes of Tax Reforms
During a fireside chat at the Nigerian Bar Association Section on Legal Practice conference in Lagos, Oyedele highlighted the positive impacts of the reforms. He reported a significant increase in informal businesses registering with the Corporate Affairs Commission and a surge in registered taxpayers, from approximately 10 million to over 100 million nationwide. These early results demonstrate the effectiveness of the new tax framework in broadening the tax base and enhancing compliance.
Commitment to Continuous Improvement
While addressing stakeholders, Oyedele contrasted the progressive features of the new tax laws with the outdated elements of the previous system. He acknowledged that no legislation is perfect, stressing the importance of ongoing stakeholder engagement to identify and address any gaps. The committee noted that any necessary adjustments would be made through future Finance Bills as part of a continuous improvement process, ensuring the laws remain responsive to economic needs.
Call for Reliance on Verified Information
The committee urged Nigerians to disregard sensationalized reports and instead rely on verified information from official channels and credible media organizations when seeking updates on tax reforms and other government policies. This call aims to prevent misinformation and ensure public trust in the reform efforts, which are crucial for Nigeria's economic stability and growth.
